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Average tea price up by 2.37% in 2019

The average auction price this year has been Rs 141.17 per kg.

, ETMarkets.com|
Dec 16, 2019, 05.18 PM IST
The average tea prices at the auctions have gone up marginally by 2.37 per cent in the first 11 months of 2019 in comparison to the same period last year. The average auction price this year has been Rs 141.17 per kg in comparison to Rs 137.89 per kg in 2018.

Commenting on the auction price hike, a senior executive of Calcutta Tea Traders Association said "Oversupply of teas in the market has dampened the price this year. Prices of CTC teas have remained muted which has impacted the overall price rise."

In the first 10 months of this year India has produced 1162.01 million kg of teas as against 1183.27 million kg in the same period last year. "Even though the crop size is less by 1.79 per cent but it did not help to boost prices," a senior trader said.

On the export front, Indian exporters have been able to get nearly 9 per cent higher prices compared to last year. A kg of tea has fetched an average price of Rs 226.85 per kg as compared to Rs 205.47 per kg in 2018 though exports is marginally down to 2016.69 million kg as compared to 208.36 million kg last year.

Meanwhile, Tea Board has extended the deadline of closing down tea estates in Assam and West Bengal by four days. The gardens were supposed to stop working from December 15. But now that has been extended to December 19. The gardens will remain close till end of February. Tea Board is taking this measure to stop production of end season low quality teas.

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